Post thumbnail

Insurers have continued to return profits gained from a reduction in claims during the COVID?19 pandemic to policyholders, but ongoing restrictions in some states delayed the full return of these profits in 2020-21, the latest ACCC annual report into the private health insurance industry has found. This is a media release from the Australian Competition & Consumer Commission (ACCC). It was…

Read More Health funds must exercise caution when calculating COVID-19 relief for policyholders

Post thumbnail

Treasurer Josh Frydenberg’s announcement today that the Government intends to reform Australia’s payment systems is a real opportunity to improve consumer protection, according to Consumer Action Law Centre. This is a media release from the Consumer Action Law Centre. It was originally published on 8th December, 2021. “Today’s announcement foreshadows consultation on regulatory arrangements for Buy Now Pay Later (BNPL)…

Read More Tougher consumer protections at core of payments reform welcomed

Post thumbnail

The Australian Financial Complaints Authority (AFCA) has appointed a new leader of its Code Compliance and Monitoring Team. Prue Monument has joined as General Manager of Code Compliance and Monitoring and is also the new CEO of the Banking Code Compliance Committee.  This is a media release from the Australian Financial Complaints Authority (AFCA). It was originally published on…

Read More AFCA appoints new head of code compliance

Post thumbnail

ACCC Chair Rod Sims has welcomed today’s Government announcement that Liza Carver has been appointed as an ACCC Commissioner for a five?year term, starting on 1 March 2022. This is a media release from the Australian Competition & Consumer Commission (ACCC). It was originally published on 29th November, 2021. Ms Carver brings significant legal and consumer experience to the…

Read More Liza Carver appointed to ACCC

Post thumbnail

The independent committee that monitors the Insurance Brokers Code of Practice (the Code) offers key industry insights and guidance in its newly published Annual Data Report for 2020. This is a media release from the Insurance Brokers Code Compliance Committee (IBCCC). It was originally published on 2nd December, 2021. The Insurance Brokers Code Compliance Committee (the Committee) has…

Read More Exploring the ‘why’ of Compliance and the need for culture shift

Post thumbnail

The ACCC is calling for funeral businesses to review their contracts and pricing practices to ensure they comply with consumer and competition laws, in a new report on the funeral services industry. This is a media release from the Australian Competition & Consumer Commission (ACCC). It was originally published on 2nd December, 2021. The report, released today, highlights key issues of…

Read More Funeral industry practices raise consumer concerns

Post thumbnail

A new survey of financial counsellors about the impact of buy now pay later (BNPL) on their clients is a wake up call to the community about this new form of debt. This is a media release from Financial Counselling Australia . It was originally published on 6th December, 2021. The report’s title says it all: It’s credit, it causes…

Read More New report shows buy now pay later debt is causing significant financial stress

Post thumbnail

Joint campaign from WEstjustice and CHOICE improves landlord insurance recoveries processes WEstjustice and CHOICE have secured insurance industry commitments to stop the practice of unfairly pursuing renters for accidental damage. This change means that no renter in Australia should receive a bill for accidental or unintentional property damage to the homes they rent. All major…

Read More Insurers stop renter robodebt and commit to minimum standards to protect tenants

Post thumbnail

International Volunteer Day (IVD) mandated by the UN General Assembly, is held each year on 5 December, the theme for 2021 is Volunteer now for our common future. Consumers Federation of Australia (CFA) thanks and acknowledges the CFA representatives for their valuable contribution to the standards development committees as part of the CFA Standards Project. The CFA…

Read More International Volunteer Day – 5 December 2021

Post thumbnail

The Treasury has released the Consultation Regulation Impact Statement (CRIS): Supporting business through improvements to mandatory standards regulation under the Australian Consumer Law. The CRIS considers options to improve the regulatory framework for mandatory standards under the Australian Consumer Law with a focus on minimising compliance costs for business while maintaining consumer protections. Treasury is seeking feedback on…

Read More Supporting business through improvements to mandatory standards regulation under Australia Consumer Law – Feedback invited

Post thumbnail

ASIC recently completed a project reviewing insurance claims handling outcomes for consumers affected by the 2019-20 ‘Black Summer’ bushfires.  The fires were declared a catastrophe (CAT195) by the Insurance Council of Australia (ICA) on 8 November 2019. During the 2019-2020 fires thirty-three people died, more than five and a half million hectares of bushland was…

Read More ASIC encourages home insurers to be consumer-centric in handling claims this summer

Post thumbnail

New research from the Australian Communications Consumer Action Network (ACCAN) has revealed that almost three in four Australians agree that it needs to be easier to make a complaint and to get their issues resolved when dealing with digital platforms such as Facebook, WhatsApp, eBay, and Service NSW. This is a media release from the Australian Communications Consumer…

Read More New research finds nearly three-quarters of Australians want better complaints handling from digital platforms